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20130128
20130128
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up to the correction from the financial crisis. >> are you worried about the debt ceiling return, this conversation returning not three months from now, because that's not what it's going to happen. it's probably only about a month and a half away and what that ultimately does. is what's happening in washington or what's happened in washington, is that actually impacting the markets and impacting the economy or have we made too much of it? >> well, you know, i think at this point looking forward, it's going to be less rather than more. the republican tactics have changed. and that reflects the fact that when we put forward a projection of our debt to gdp ratio in the u.s., it's almost flat going out the next decade. that's a core measure of stability. i know ryan wants to see the debt drop to the euro. but stabilizing the debt relative to our income is sustainability. and i think we're pretty much there in the u.s. we're nowhere near that in europe. so in the u.s., it's fiscal policy as usual minus 1% for government spending. but in the new year, just as we saw in the last year f
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